After The Bell Report: Apple's earnings rise 58%, but outlook disappoints

Date: Tue, 22 Jan 2008 22:01:05 (GMT)

Apple's earnings rise 58%, but outlook disappoints

SAN FRANCISCO
Apple Inc. on Tuesday reported a first-quarter profit that rose 58% from
a year ago thanks to strong sales of Mac computers and iPods during the
busy holiday shopping season.

Market Snapshot: U.S. stocks recoup losses after dramatic plunge

U.S. stocks declined for the fifth straight session Tuesday but mostly
recovered from an opening rout sparked by a global sell-off, with
equities investors drawing some reassurance from the Federal Reserve's
emergency interest-rate cut.

The Fed: Fed isn't finished on rate cuts by a long shot, economists
agree

WASHINGTON
Tuesday's surprise interest-rate reduction by the Federal Open Market
Committee doesn't mark the end of U.S. rate cuts by any means, Federal
Reserve watchers say.

Tech Stocks: Techs close lower alongside broader market

Technology stocks took a sharp turn south Tuesday as the Nasdaq
Composite Index touched a 52-week low - giving up all of its gains from
last year - while the broader market slid in the wake of an emergency
interest rate cut from the Federal Reserve.